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Hostile takeover target Inter Pipeline reports 60% of Heartland plant is contracted
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Hostile takeover target Inter Pipeline reports 60% of Heartland plant is contracted
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Dan Healing
Inter Pipeline s Heartland Petrochemical Complex in Fort Saskatchewan, Alta. is shown in this undated handout photo. THE CANADIAN PRESS/HO, Inter Pipeline MANDATORY CREDIT April 05, 2021 - 10:17 AM
CALGARY - An Alberta government grant that more than doubles its previous commitment for a petrochemical plant being built by Inter Pipeline Ltd. puts pressure on Brookfield Infrastructure Partners LP to raise its hostile takeover bid, an analyst says.
On Monday, Inter Pipeline announced it will receive $408 million in cash grants for its Heartland Petrochemical Complex under an incentive program by the current United Conservative Party government but will have to give up $200 million in Alberta royalty credits granted by the previous NDP government.